JPMorgan Chase & Co. Issues Pessimistic Forecast for NMI (NASDAQ:NMIH) Stock Price

NMI (NASDAQ:NMIH) had its target price cut by investment analysts at JPMorgan Chase & Co. from $50.00 to $45.00 in a report issued on Monday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 13.75% from the company’s current price.

A number of other research analysts also recently weighed in on the stock. Royal Bank Of Canada restated an “outperform” rating and set a $53.00 price target on shares of NMI in a report on Tuesday, August 4th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $47.00 price objective on shares of NMI in a report on Monday, August 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of NMI in a research report on Wednesday, September 9th. Truist Financial increased their target price on shares of NMI from $49.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Finally, BTIG Research started coverage on NMI in a report on Tuesday, September 22nd. They set a “buy” rating and a $54.00 target price on the stock. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, NMI has a consensus rating of “Moderate Buy” and a consensus target price of $48.43.

NMI Trading Up 0.4%

NASDAQ:NMIH opened at $39.56 on Monday. The company has a market capitalization of $2.98 billion, a P/E ratio of 7.77, a P/E/G ratio of 1.06 and a beta of 0.56. The stock’s 50 day moving average price is $43.14 and its 200 day moving average price is $40.66. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.65 and a current ratio of 0.65. NMI has a 52 week low of $34.84 and a 52 week high of $46.74.

NMI (NASDAQ:NMIH) last posted its earnings results on Thursday, July 30th. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.10. The firm had revenue of $187.89 million during the quarter, compared to analysts’ expectations of $156.26 million. NMI had a net margin of 54.10% and a return on equity of 15.13%. The company’s revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.22 earnings per share. On average, research analysts forecast that NMI will post 5.25 EPS for the current fiscal year.

Insider Buying and Selling at NMI

In other news, CEO Adam Pollitzer sold 172,706 shares of NMI stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $44.85, for a total value of $7,745,864.10. Following the transaction, the chief executive officer owned 270,267 shares of the company’s stock, valued at $12,121,474.95. This trade represents a 38.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Robert Smith sold 12,000 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $44.65, for a total transaction of $535,800.00. Following the completion of the sale, the executive vice president owned 96,381 shares of the company’s stock, valued at $4,303,411.65. The trade was a 11.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 196,368 shares of company stock worth $8,800,740 over the last 90 days. Insiders own 2.44% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NMIH. WINTON GROUP Ltd boosted its holdings in NMI by 96.0% during the second quarter. WINTON GROUP Ltd now owns 24,747 shares of the financial services provider’s stock valued at $1,017,000 after acquiring an additional 12,120 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in shares of NMI in the second quarter valued at about $122,000. NewEdge Advisors LLC increased its stake in shares of NMI by 7.5% in the second quarter. NewEdge Advisors LLC now owns 18,050 shares of the financial services provider’s stock worth $742,000 after purchasing an additional 1,252 shares during the period. Allworth Financial LP increased its stake in shares of NMI by 44.3% in the second quarter. Allworth Financial LP now owns 2,184 shares of the financial services provider’s stock worth $90,000 after purchasing an additional 670 shares during the period. Finally, Nykredit A S bought a new position in shares of NMI in the second quarter worth about $31,000. Institutional investors own 94.12% of the company’s stock.

NMI Company Profile

NMI Holdings, Inc (NASDAQ:NMIH) is a holding company whose principal operating subsidiary, National MI, provides private mortgage insurance in the United States. Mortgage insurance helps protect lenders and investors against losses when borrowers default on residential mortgage loans, enabling qualified borrowers to purchase homes with down payments below traditional requirements.

National MI primarily offers mortgage insurance for residential first-lien mortgages, including borrower-paid and lender-paid coverage.